Set up a PP management board - Powerhouse. Its structure is to be similar to SNX’s Spartan council
- 4 persons selected out of the active community members @sergey @zero @defi @vasilysumanov
- Each member has 1 vote and the team has 2 votes - 6 votes overall
- Allocate 70k CVP reward per each with 18m daily vesting
- Every 3 months the community can vote to replace any of the management board members.
- Management board to report the development progress each month
- Create a discord topic for those who want to input. the Management Board will select candidates and payment scheme.
- Management board takes the revisor function as was described in Proposal 19
- Over the course of the first month the Management board should structure and publish a more detailed scheme of how it works
8.1 For the first 1-3 months the scope of work will basically include everything
- Management board and community to consider additional incentive plans applicable for both - the management board members and for the community members
- In terms of the governance process the key goal is to decrease the number of votings where all the community have to vote, making most standardize most of the necessary votings and make them regular (say, once per month). Obviously, for the controversial steps, the community can always raise a proposal
I read through many hundreds of pages, checked out the leading DeFi projects govn frameworks and spoke to some of the DeFi governance top minds which kindly agreed to consult me
The conclusion in simple words: decentralized governance has even more issues than the centralized one and there is no cure atm, but lazy consensus (community voting minimization) and efforts to find an optimal mix between an independent /elected governance council and community
I suggest starting with the above mentioned Management board structure because:
- We just have no time and need to move forward to make PP’s great product the market leader
- Similar structures are being implemented by some of the leading projects in the space (e.g. Polka, SNX), and I consider such structure as a lesser evil by a long list of parameters
There is no proper decentralized governance structure at the moment and we have to experiment.
On one hand a pure “democracy” as is (i) doesnt incentivize the active members, (ii) creates a bureaucracy hell when on 1 simple action one needs to approve 3 proposals (hyperbola) and waste 7-10 days (true) just to start actually do the job
On the other hand, while nobody wants overly centralized governance, someone needs to take the responsibility for concrete workstreams and allocate a fair amount of time to them.
=> As it always happens with governance/politics - we are choosing the lesser of two evils and then trying to make it a bit less evil via a complex trial and error method
Please see the links at the end of this post, I have no time to properly set the sources here, but all these articles are just must-reads for everyone who is interested in decentralized governance
- For the team
- outsource the most time-consuming parts of not a technical job to battle-tested and committed community members
- Significantly speed up and increase the quality of all the abovementioned workstreams
- For the Community
- Get a special weapon unit to be responsible for mid/long term leadership of PP and CVP value appreciation
- Get everything related to PP transparent and crystal clear (current state and the plans)
- Retain influence power for the Protocol development
The amount of job is tremendous, to save the readers time - happy to answer any questions in the comments re what key workstreams I see, why do I think there is a hell lot of job needs to be done with some of them
Please see the abstract.
From a technical standpoint, we are adding only an easy-to-implement off-chain layer
Include @DrGonzo into the Management board. I believe the community understands his role and his skills
so 5 members in the board + the team with 2 votes
Set the base rewards level at 50k CVP. Additional 20k are to be distributed in case either (I) $100 mn TVL achieved or (ii) DPI TVL is outperformed